BYES AND WAYS CO LTD
V.
MES BES LTD

(2017) JELR 69714 (HC)    
High Court  ·  SUIT NO. GJ 369/17 ·  27 Jun 2017 ·  Ghana
CORAM
ERIC K. BAFFOUR ESQ. JUSTICE OF THE HIGH COURT
Core Terms Beta
court
defendant
case
conditional appearance
illegal contract
foreign exchange
high court
public policy
employment tribunal
filing of conditional appearance
lord mansfield
supreme court
us dollars
action of plaintiff
application counsel
basis of the application
breaches of acts of parliament
case of holman v johnson
case of republic v
case of republic v high court
case of scandorf v zeini
civil procedure
combination of factors
common law roots
decision of any question
doctrine of illegality rests
english supreme court
ex parte aryeetey
ex turpi causa
following reliefs
following words
foreign exchange act
inherent jurisdiction of the court
institution of the action
interested parties
interested party
jurisdiction of the court
lartey v beany
legal point
loan agreement
main cause
payment of foreign currency
plaintiff claim
rules of court
sale of foreign currency
simple contract
specific order of the rules of court
such dry enforcement of act
such opportunity
tackie v baroudi

Defendant/Applicant has mounted this application seeking an order for the dismissal of the suit. The basis of the application, according to counsel for the applicant, is founded under section 3(1) and (4) of the Foreign Exchange Act, 2006 (Act 723) which states as follows:

(1) “A person shall not engage in the business of dealing in foreign exchange without a license issued under the Act.

(2) The Bank shall prescribe the banks or other corporate bodies or persons that it considers competent to engage in the business of dealing in foreign exchange.

(3) The Bank shall issue or renew a licence to engage in the business of dealing in foreign exchange subject to conditions that the Bank shall determine: from time to time.

(4) The business of dealing in foreign exchange includes the (a) purchase and sale of foreign currency,

(5) (b) Receipt or payment of foreign currency,

(6) (c) Importation and exportation of foreign currency, and (d) lending and borrowing of foreign currency”.

And under se…

There's more. Sign in to continue reading.

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.

Get started   Login